To view this email as a web page, go to the link below, or copy and paste it into your browser's address window. https://click.response.cnbc.com/?qs=a07c40e1039ff8b5373cb33ada97fdb8df39f92a168c647f39dbaa1fc0bab31227dad490c79bc493CNBC | Morning Squawk To view this email as a web page, click https://click.response.cnbc.com/?qs=a07c40e1039ff8b5373cb33ada97fdb8df39f92a168c647f39dbaa1fc0bab31227dad490c79bc493 here. https://click.response.cnbc.com/?qs=a07c40e1039ff8b5c6b5d100c1cad34c3a736c71bad737dac00a3bdffa74dd6901660066df5cfff3 https://click.response.cnbc.com/?qs=a07c40e1039ff8b55f73e624bc259e815c353a68fe551689e551eb90068d224080db34a670ae4989 IN THE NEWS TODAY U.S. stock futures https://click.response.cnbc.com/?qs=a07c40e1039ff8b55bf8a4969de2af3ff7a4cf509dd67daf3446df1d38a133c4194d09cd78068e79 were higher , following oil this morning after Wall Street rallied Tuesday and decoupled with crude. The Dow, S&P 500, and Nasdaq aim for three straight sessions of gains, after their most powerful two-session winning streaks since August 2015. (CNBC) https://click.response.cnbc.com/?qs=a07c40e1039ff8b51e2e9af1dd57343e1e1d253849fff885d37afb00633bf80490f2d2f91d406de7 Oil was rising this morning , as efforts led by Russia and Saudi Arabia to broker a deal among major producers to freeze output levels turned to stubborn Iran. U.S. crude, lower Tuesday, marked its 21st straight session of 1 percent intraday swings between gains and losses. (Reuters)Investors hope to get more clues on the future for interest rates, when the Fed releases at 2 p.m. ET the https://click.response.cnbc.com/?qs=a07c40e1039ff8b54d09c4dd530dd3289889e7f3dd05297cee42999c2097c93ac58f8631963473f7 minutes from its latest meeting .Chair Janet Yellen last week left the door open for a March hike while acknowledging the new year market turmoil. (CNBC)Minneapolis Fed President Neel Kashkari https://click.response.cnbc.com/?qs=a07c40e1039ff8b5635d102a87045b6e0c73e7ea9d366256be4babf110966def945a45c0af2c3de1 told CNBC this morning central bank policy is not the only factor keeping interest rates low. He also said banks would still need to be bailed out in another financial crisis even though post-2008 regulations have helped them to become healthier. https://click.response.cnbc.com/?qs=a07c40e1039ff8b57fbda28a0ca190d81e9eaf9dbbdaa10db5734fd3602f7d2ba44e424833a9e5fd https://click.response.cnbc.com/?qs=a07c40e1039ff8b53d87330bdf4e6dc4bedb6a22ddd44db8f134a46401a5ece4b4a67e9b83d8032f https://click.response.cnbc.com/?qs=a07c40e1039ff8b565783cc0f481e74e6ff4e40e3f30f22a4fab00acbd5bb8c9dac20671051a332f An order by a U.S. judge asking Apple (AAPL) to help the FBI access an iPhone belonging to one of the San Bernardino terrorists https://click.response.cnbc.com/?qs=a07c40e1039ff8b58f22b0f055c6422738598c6e6c46db3e389a0cbafefe9409ed4ad0b410e79166 is "chilling" and essentially asking the U.S. tech giant to "hack" its own users, said CEO Tim Cook. (CNBC)Carl Icahn https://click.response.cnbc.com/?qs=a07c40e1039ff8b50f0dbbf6bc42c15d01125ead14c193c81eb65e1f469a63120969fc12e179db03 reduced his stake in Apple by 7 million shares to 45.8 million shares, according to a Tuesday filing. David Einhorn also trimmed his Apple stake in the fourth quarter, amid a decline in the value of the iPhone maker's shares. (CNBC)Pipeline operator Kinder Morgan (KMI) https://click.response.cnbc.com/?qs=a07c40e1039ff8b503f9f58782ccfb5480a9ae6e4e6522f3f53b7180ad4357f5f944fa45c79a8b94 was among the new investments made by Warren Buffett's Berkshire Hathaway (BRKA, BRKB). Berkshire owned about 26.5 million shares as of Dec. 31, according to an SEC filing. (Reuters)President Barack Obama https://click.response.cnbc.com/?qs=a07c40e1039ff8b583694198bf0345181d8dbbf2cb83923065ba1d08087db2668163c1cf480fa2b2 singled out GOP front-runner Donald Trump as someone who would not be a serious president. In response, Trump said he considered what Obama said about him to be a compliment. (NY Times)The president also https://click.response.cnbc.com/?qs=a07c40e1039ff8b54feb303047d4fca1f8ccf0a86c6c7e46aaa57f6f3f674ff05e7fc09fe5ec5e76 challenged Republicans drop their refusal to consider a Supreme Court candidate to replace Justice Antonin Scalia. Obama pledged to nominate a qualified candidate soon. (NY Times) BY THE NUMBERS Ahead of the Fed minutes, the government reports January producer prices and housing starts at 8:30 a.m. ET.The Fed is out withJanuary industrial production at 9:15 a.m. ET. With bond yields falling and home borrowers looking to take advantage, total mortgage applications jumped 8.2 percent last week, according to the Mortgage Bankers Association. Refinances were entirely behind the gains, increasing 16 percent for the week.Concho Resources (CXO) joins the S&P 500 after Friday's close, replacing Plum Creek Timber, which is being purchased by Weyerhaeuser (WY). The deal is expected to be completed at the end of the week. STOCKS TO WATCH Priceline Group (PCLN) this morning reported earnings and revenue that beat expectations. The travel website operator credited, among other factors, a surge in hotel room bookings. T-Mobile (TMUS) this morning reported estimates on both the top and bottom lines, with profit nearly tripling from a year earlier as aggressive promotions helped it add more customers.Campbell Soup (CPB) said it expected to report fiscal second quarter profit of 87 cents per share, well above consensus forecasts of 71 cents. The food company also raised its 2016 earnings guidance, helped by cost cuts.Restaurant Brands International (QSR), operator of the Burger King and Tim Hortons, reported quarterly profit of 35 cents per share, beating estimates by 6 cents, and revenue was also above forecasts.Cheesecake Factory (CAKE) beat on earnings but missed slightlyon revenue. Same-restaurant sales rose 1.1 percent, the 24th straight quarter in which the restaurant chain has posted an increase.Cerner (CERN) beat on earnings and revenue. But the provider of health-care IT issued e an earnings forecast for the current quarter that was short of forecasts, following weaker than expected fourth quarter bookings.Devon Energy (DVN) exceed estimates on earnings, but revenue missed by a wide margin. The oil producer cut its dividend and exploration spending, both by 75 percent. Lower oil prices also prompted a 20 percent staff cut.Express Scripts (ESRX) matched estimates on earnings but revenue was shy. The pharmacy benefits manager warned on outlook, blaming "constant challenges" in the evolving health-care marketplace.Fossil (FOSL) beat on earnings and revenue in the latest quarter, and issued better-than-expected 2016 sales guidance, despite the negative impact of a strong dollar. The watch and jewelry maker credited growth in online sales. WATERCOOLER Former Treasury Secretary Larry Summers is backing https://click.response.cnbc.com/?qs=a07c40e1039ff8b57bebb61ec7dae3d1f1d9ed84f7c1462d548dbbde6d58540f3019e7bdc342adcd calls for removing the 500 euro and $100 bills from circulation. In his latest column for The Washington Post, he argued the large bills make it easier for terrorists and criminals to move money. CONTRIBUTORS https://click.response.cnbc.com/?qs=a07c40e1039ff8b58ecc4f9bcd559cfa0ec74d59afcfd9694115b09345732e7c4ccdde72db1807f7 https://click.response.cnbc.com/?qs=a07c40e1039ff8b58ecc4f9bcd559cfa0ec74d59afcfd9694115b09345732e7c4ccdde72db1807f7 Matthew J. BelvedereSenior Producer https://click.response.cnbc.com/?qs=a07c40e1039ff8b50ae3de03dabbea58f5d9b5482548e89bf10e78ccbf8c9e655d0aa5e06453dc77 @Matt_Belvedere https://click.response.cnbc.com/?qs=a07c40e1039ff8b59d66bc48e64eb1f58c72f8b00848535f2a12bcbe63329a10502c8f75dea3560e https://click.response.cnbc.com/?qs=a07c40e1039ff8b59d66bc48e64eb1f58c72f8b00848535f2a12bcbe63329a10502c8f75dea3560e Peter SchacknowSenior Producer https://click.response.cnbc.com/?qs=a07c40e1039ff8b5bc46d95e204107b890030f6c941ddc5c2f36746f9d1368e8854a50814e130bea @peterschack https://click.response.cnbc.com/?qs=a07c40e1039ff8b57fa8468ebf26991e0e7b849f8222952e6147902114cc5b81be200b6713079f1d https://click.response.cnbc.com/?qs=a07c40e1039ff8b57fa8468ebf26991e0e7b849f8222952e6147902114cc5b81be200b6713079f1d Tom DiChristopherWeb and TV producer Feedback We value your input—use https://click.response.cnbc.com/?qs=a07c40e1039ff8b5060b9028550cf3f49975afba0086e9a8ef873f56d7da559da0f2c458e64f3a4d our simple form to let us know what you think. 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